Commute Better – Reduce the Impact of Rising Fuel Prices

Written by Vidya Kumar

September 13, 2018

Picture

Executive Summary: The rising fuel price affects all aspects of our life – Basic Necessities, Travel, Government policies on economy etc. We can attempt to do a few things to reduce the impact of it on our financial life.

The spiralling petrol prices have left everyone in a frenzy. There are economic and political repercussions of the same. But the layman is affected by a rise in prices of goods and services and increase in commute/travel costs. In Mumbai, the price of petrol has risen by about Rs. 11 as compared to the price in January, 2018. So if you drive 600 kms a month, your fuel bill would have gone up by Rs. 500- Rs. 1000.

​Let us look at some ways to reduce the effect of rising fuel prices –
Use Alternate Modes of Transport – Do you use your car daily for your commute to work? You should try out alternate modes of transport. You can use the public transport system at least for a couple of days if possible. Can you use your motorbike/ scooter? It will reduce the commute time and also trim the fuel bill. If the traffic and roads permit it, maybe you can take a bicycle to work. It is eco-friendly and cheap. Moreover it will keep you fit.
Telecommute – In today’s age of technology, it is not really necessary to be at your office desk every single day in many jobs. You can get a respite from your daily commute hassle and fare even if you work from home once a week. Check your company policies about telecommuting or if you are the decision maker, see if you can incorporate a work-from-home policy.
Change working hours – If you have a typical 9 am to 7 pm job, you will be stuck in traffic, which will increase your fuel consumption and at the same time cause health issues. You can adopt a flexible hours strategy wherein you go to office a couple of hours earlier or later and/or leave a couple of hours earlier or later. If your work involves collaborating with people in the Far East or Australia, you can start work earlier. If you work closely with people in Europe, you can consider going to work a little later in the day. 
Carpooling – You can carpool with colleagues who live in your vicinity or neighbours who work in the similar vicinity as your place of work. Many companies have adopted a carpooling process, where people can connect with others in their office and commute together. This helps save costs and also network with employees across departments which can be beneficial to your career.
Change your Job – Experts say that the commute should not be more than one hour one way. But many of us spend much more time in our daily commute. Consider changing your job. If you wanted to start something different but have been holding back, maybe it is time to get started on it. 
Buy Fuel Efficient Vehicles – Do you own a gas guzzling machine? Replace it with a fuel efficient car. If you are just one person commuting to work in an SUV, maybe you should look for a different car. This will definitely save some money and also reduce your carbon footprint.
Better Driving Habits – Here are some good driving habits will help to increase the fuel efficiency and increase safety –

  • Do not accelerate or apply the brakes rapidly at all times.
  • Do not drive too fast or too slow. Drive at a steady pace as far as possible.
  • Do not treat your car as a storage area. It will add to the weight of the car thus increasing the fuel usage.
  • Service and maintain your car regularly. Check that the oil, spark plugs and tyre pressure are appropriate.

Let us know if you have taken any steps to to deal with rising fuel prices.

0 Comments

INSIGHTS + MONEY STORIES

INSIGHTS + MONEY STORIES

Our Newsletter features money stories and useful insights on personal finance that can help you make informed decisions and stay up-to-date with the latest trends in personal finance. Sign up today!!!

You have Successfully Subscribed!